ASX-listed winemaker Treasury Wine Estates (ASX:TWE)
has stepped up its collaboration with US heavyweight distribution partner Republic National Distributing Company (RNDC).
The Melbourne-headquartered wine company sealed a new distribution contract to expand market reach by nine new states in the North American country’s second-largest liquor distribution network.
TWE heaped praise on the deal, “Our decision to partner with RNDC presents us a terrific opportunity to cultivate our trade partnership, to fast track growth, execute our plans, and build long-term value”.
The addition of these new new regional outlets to the existing Georgia, Michigan and New Mexico markets has lifted the total number of destinations for Treasury Wine’s products to 12 states.
Treasury Wine’s business planners consider the agreement to be a timely relief package, in the midst of trade tensions with Australian wines’ biggest exporter China. The agreement is expected to boost sales of the Aussie winemaker's range of liquors in Australia's second biggest wine export market.
Shares in Treasury Wine Estates (ASX:TWE)
are trading 3.42 per cent higher at $10.29